Montana Statutes
§ 33-4-414 — Proportionate Payment Of Losses
33-4-414 . Proportionate payment of losses. If the aggregate whole amount of the members' obligations to an insurer transacting business on the assessment plan are insufficient to pay all valid claims for losses under the insurer's contracts of insurance after necessary expenses in any one year, then such claimants insured by the insurer shall receive their proportionate share of the funds realized from such obligations in full satisfaction of such losses.
Free access — add to your briefcase to read the full text and ask questions with AI
Montana § 33-4-414 (Proportionate Payment Of Losses) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
En. Sec. 518, Ch. 286, L. 1959; R.C.M. 1947, 40-4851.
Nearby Sections
15
§ 33-4-102
Definitions§ 33-4-103
Corporate Powers In General§ 33-4-201
Eligible Incorporators§ 33-4-205
Certified Copies Of Articles As Evidence§ 33-4-206
Initial Qualifications§ 33-4-301
Bylaws -- Adoption -- Power To Amend§ 33-4-302
Bylaws -- Contents§ 33-4-303
Bylaws Binding Upon Members§ 33-4-304
Annual Meetings Of Members -- Where Held§ 33-4-306
Adjourned Annual Meetings -- Notice